Old Man Jingles
Rat out of a cage
Remember it well.Jimmy Carter (1977-1981)
President Jimmy Carter's presidency was also overshadowed by stagflation. He deregulated oil prices to spur domestic production. He also deregulated the trucking and airline industries while expanding the national park system. In 1979, Iranians took Americans hostage, causing the economy to contract.16
The problems came later in Carter's administration, when the economy fell into recession in January 1980 as he prepared to run for reelection. The combination of high inflation and high unemployment led to the use of the term "misery index" that combined those two readings, and helped to lead to his defeat.
His economic moves helped Reagan's economy but spelled his demise.